Iambic Therapeutics has been added to the Nasdaq Composite Index following a $150 million IPO and a 25.91% single-day gain. The AI-driven oncology firm, backed by Nvidia and AbbVie, is using the proceeds to advance three early-stage cancer candidates.
Iambic Therapeutics, an artificial intelligence-driven life sciences company, has been added to the Nasdaq Composite Index, marking a significant milestone in its recent public market debut. The inclusion follows a busy October for the San Diego-based firm, which completed a $150 million initial public offering and filed a shelf registration for an additional $184.6 million in potential capital. According to market data, the stock has demonstrated strong upward momentum, recording a 1-day share price return of 25.91% and a year-to-date return of 48.81%.
The company began trading on the Nasdaq Global Select Market under the ticker IAM on October 15, 2026. Shares priced at $16.00 per share in the offering, which generated gross proceeds of $150 million before underwriting discounts and commissions. On its debut session, the stock rose 18% to settle at $18.91, valuing the company at approximately $896 million. The offering was led by JPMorgan Chase, Jefferies Financial Group, Bank of America, and Citigroup, which served as joint book-running managers.
Iambic Therapeutics, founded in 2019, utilizes machine learning and artificial intelligence to accelerate drug discovery. The company intends to deploy its IPO proceeds toward advancing three oncology candidates currently in early development. Its partnership network includes major industry players such as AbbVie, Takeda Pharmaceutical, and H. Lundbeck. Nvidia is both a shareholder and a strategic partner, having participated in several of Iambic’s prior convertible preferred rounds, while AI cloud provider Lambda Inc. is also listed among its partners.
Investor interest in the listing has been robust, with ARK Investment Management and Stanley Druckenmiller’s Duquesne Family Office indicating interest in purchasing up to $60 million of stock in total. Since its launch, Iambic has raised $461.8 million from various tech and healthcare backers. Following the IPO, ownership stakes are expected to shift slightly, with Catalio Capital Management’s holding projected to decrease to 8.9% from 11%, and Nexus Venture Partners’ stake expected to drop to 6.8% from 8.5%.
Despite its recent gains, the company remains in a loss-making phase as it scales its operations. Analysts suggest that the next critical proof points for Iambic will be the progression of its three early-stage oncology programs and the ability to translate its AI-enabled partnerships into a robust clinical pipeline. The addition to the Nasdaq Composite Index is expected to increase the company’s visibility among a broader base of investors.